Ascensia Diabetes Care Launches Global Innovation Competition to Find Digital Solutions to Help Tackle the Epidemic of Type 2 Diabetes

MISSISSAUGA, ON, Jan. 29, 2018 /CNW/ - Ascensia Diabetes Care recently launched the Ascensia Diabetes Challenge, a global innovation competition that is seeking innovative digital solutions to support diabetes management and improve the lives of those living with type 2 diabetes. The challenge aims to find new ways to help tackle the management of the global epidemic of type 2 diabetes by unearthing undiscovered solutions from diabetes innovators. Finalists, runners-up and the winner will all receive cash prizes to support further development of their ideas from a total prize fund of 200,000 Euros.

Through the challenge, Ascensia aims to support companies who are developing the next big leap forward in digital solutions that could facilitate better type 2 diabetes management and help relieve the burden it places on individuals, healthcare systems and society. Although solutions and therapies in this area continue to improve year on year, many of the emerging technologies currently in development need further investment to ensure they can play a critical role in helping people with type 2 diabetes to better self-manage all aspects of their condition.

"The Challenge is a unique and exciting opportunity for Ascensia Diabetes Care Canada," said Russell Newsome, Region Head Americas, Ascensia Diabetes Care. "We believe there is enormous potential for digital technology to help people with type 2 diabetes manage their lives and we hope to generate entries from Canadian start-ups that want to improve diabetes management."

The competition will seek submissions from Canada, the rest of the Americas, Europe and Asia Pacific with entries open until February 23, 2018. Entries can be submitted via the online portal at http://ascensiadiabeteschallenge.com.

A judging panel, made up of independent experts from diabetes and digital health from across the world, as well as members of the Ascensia Medical, R&D and Commercial teams, will assess the entries and determine finalists and the winner.  

Robin Swindell, a person with type 2 diabetes and Challenge panel member said, "Like most patients with type 2 diabetes, I only see a healthcare professional for a couple of hours a year at most. For the rest of the time we rely on self-management. We need to find innovative digital solutions that can better support self-management for us. Solutions need to be able to be personalized and fit into their lives. They should also offer quantitative data that can help us to better understand and manage our condition and provide motivation. Digital solutions have the ability to address these needs. I am delighted to be involved in this challenge and hope it will unearth a new innovation that can make a real impact for me and other patients."

Ascensia has partnered with yet2, an open innovation services company, to launch this global challenge. yet2 will be managing the submission process and initial review of entries. They will use their experience with open innovation challenges to facilitate the review of entries, manage intellectual property screening and support the judging process.

About Ascensia Diabetes Care

Ascensia Diabetes Care is a global specialist diabetes care company, dedicated to helping people living with diabetes. Our mission is to empower people living with diabetes through innovative solutions that simplify and improve their lives. We use our innovation and specialist expertise in diabetes to develop high quality solutions and tools that make a positive, daily difference for people with diabetes.

Home to the world renowned CONTOUR^® portfolio of blood glucose monitoring systems, our products combine advanced technology with user-friendly functionality that help people with diabetes to manage their condition. We are committed to continued research, innovation and development of new products and solutions. As a trusted partner in the diabetes community, we collaborate closely with healthcare professionals and other partners to ensure our products meet the highest standards of accuracy, precision and reliability, and that we conduct our business compliantly and with integrity.

Ascensia Diabetes Care was established in 2016 through the sale of Bayer Diabetes Care to Panasonic Healthcare Holdings Co., Ltd. Ascensia Diabetes Care products are sold in more than 125 countries. Ascensia Diabetes Care has around 1,700 employees and operations in 33 countries.

About yet2

yet2 operates at the hub of the global technology market. Since 1999, we have been an Open Innovation services company working for an international corporate client base. We leverage our global network of affiliates, the 140,000+ users of our online technology marketplace, a proprietary database of several million data points, and our offices in North America, Europe and Asia to scout cutting-edge companies and technology beyond the reach of most clients. yet2 provides hands-on technology transfer services in the areas of targeted technology scouting, strategic dealflow, Open Innovation portal management, innovation tours and anonymous deals - bringing our Open Innovation clients hundreds of millions of dollars in value. Contact us at yet2.com to learn more about how we can help you unlock your innovation potential.

For further information, please visit the Ascensia Diabetes Care website at: http://www.ascensia.com.

© TM see ascensiadiabetes.ca/tm-mc.

SOURCE Ascensia Diabetes Care

Ascensia Diabetes Care, [phone], [email protected]